OPEC, Russia Deal Raises Hope For Crude Oil         A fresh hope for oil producing countries such as Nigeria, and Algeria was raised at the weekend as oil prices hit the highest level since early March after major producers agreed to a cautious increase in output...

JV Oil Assets Suffer As NNPC Slashes Funding       The nation’s oil and gas assets being developed through joint ventures between the Nigerian National Petroleum Corporation and private firms are suffering funding shortfall as cash call payment by the NNPC has hit a record low. Amid the...

CACOVID Empowers 4m youths with N150bn job program …To renovate 44 burnt Police stations; spend N100bn on Police equipment  The private sector led Coalition Alliance Against COVID 19 (CACOVID), has unveiled plans to empower four million youths with N150 billion employment program, noting that once the...

Reps Demand N50bn Airlines Bailout         The House of Representatives has said Nigeria’s aviation sector needs about N50bn to cushion the effects of the COVID-19 pandemic while dismissing the N4bn proposed by the Federal Government as grossly inadequate. The House Committee on Aviation, which addressed journalists in...

Nigerian Economy Enters Second Recession In Five Years       The Nigerian economy has slipped into its second recession in five years as the gross domestic product contracted for the second consecutive quarter. The National Bureau of Statistics announced Saturday the nation’s GDP recorded a negative growth of...

Nigeria’s Oil Rigs Decline By 30% As Exploration Drops       The number of active oil rigs in Nigeria declined by 30 per cent in October, with stakeholders lamenting the reduction in exploration activities in the nation’s oil and gas industry. Data obtained by our correspondent from the...